Data from the Australian Prudential Regulatory Authority (APRA) shows that the nation’s 37 private health insurers booked a combined profit of $723 million in 2019-20. The figures also show that 11 health funds made a loss for the financial year, compared with just five in 2018-19. Medibank and Bupa retained their rankings as Australia’s leading health funds, with market shares of 26.9% and 25.4% respectively.
From The Australian:
The poor performance of smaller insurers and continued dominance of bigger funds adds to warnings of the sector facing significant consolidation in coming years.
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